A series of court rulings and legislative changes in India is clearing many clouds for Irish aircraft lessors operating in the market. AerCap, the Dublin headquartered giant in the industry, successfully challenged a decision by one of India’s tax authorities on where it should pay tax. Through one of its subsidiaries, Celestial Aviation, AerCap and another lessor, SMBC Aviation Capital, challenged the tax authorities’ claim that lessors owed tax in India, rather than just in Ireland. The dispute, heard by the Income Tax Appellate Tribunal in Delhi, related to aircraft leased to AirAsia and now-defunct Go First. The tribunal determined…

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